Do More With Reuters
Partner Services

US STOCKS-Economic slump worry hits market; GM plunges

Mon Nov 10, 2008 10:35pm IST
 
Email | Print | | Single Page
[-] Text [+]

(Updates with market falling further)

NEW YORK, Nov 10 (Reuters) - U.S. stocks fell on Monday as doubts about whether China's stimulus plan would avert a deep global economic slump surfaced and investors fretted about General Motors' (GM.N: Quote, Profile, Research) outlook.

Shares of GM slid nearly 26 percent to $3.23 after Deutsche Bank's recommended a "sell" and slapped a price target of zero on the stock, a Dow component.

The Dow Jones industrial average .DJI was down 14.73 points, or 0.16 percent, at 8,929.08. The Standard & Poor's 500 Index .SPX was down 5.96 points, or 0.64 percent, at 925.03. The Nasdaq Composite Index .IXIC was down 14.74 points, or 0.89 percent, at 1,632.66. (Reporting by Ellis Mnyandu; Editing by Jan Paschal)

Russian Finance Minister Alexey Kudrin poses with his G20 colleagues and central bank leaders during the family photo at the G20 Finance Ministers meeting at a hotel in St. Andrews, Scotland. REUTERS/POOL New
Pledge to support economies

G20 financial leaders pledged to prepare strategies to end emergency support for their economies, but to keep the aid flowing until recovery was assured.  Full Article | Related Story 

Market Update

  • IndiaIndia
  • USUS
  • UKUK
  • Asia
  • Most Actives

SHOWCASE

Sanjay Sinha
Balancing Act

In India, it is a tough choice between growth, managing inflation and financial stability.  Full Article 

 
Nipun Mehta
Road to Recovery

There needs to be an acceptable balance created between education and healthcare and infrastructure spend, says Nipun Mehta of SG Private Banking.   Full Article 

 
Robot Asimo

Snapshots of Honda Motor's humanoid robot Asimo  Slideshow 

 
Marketing Strategy
Marketing Strategy

Companies are now using direct marketing methods to sell their products.  Full Article 

 
Exit Plans
Exit Plans

Factbox - Stimulus exit plans for Asia-Pacific's big 5 economies  Full Article